SST posts $1.6 million profit on 5.4% sequential sales increase
Semiconductor Business News
(04/24/02 19:18 p.m. EST)
siliconstrategies.com
SUNNYVALE, Calif.--Silicon Storage Technology Inc. today reported a 5.4% sequential increase in revenues to $74.6 million in the first quarter compared to $70.8 million in Q4 of 2001. The flash supplier posted a net income of $1.6 million compared to a net loss of $9.1 million in the fourth quarter.
"We are pleased to report our continued steady recovery during a seasonally weak first quarter," said Bing Yeh, president and CEO. "Booking activities were very strong across all four of the market segments that our products address. In fact, net bookings increased 52% from the fourth quarter of 2001.
"Also, for the first time since the fourth quarter of 2000, our book-to-bill ratio is greater than one. Gross unit shipments grew 12% compared with the previous quarter, our third consecutive quarter of growth since unit shipments bottomed in the second quarter of 2001," he stated. "Unit growth during the first quarter was driven by a very broad range of applications, which include DVD-ROM drives, CD-RW drives, DVD players, VCD players, digital still cameras, digital TVs, video games, PC BIOS devices, printers, cordless phones and wireless LANs."
SST said it anticipates revenues to be 0-to-5% higher in the second quarter from Q1 sales. Earnings are expected to be between break-even to a profit of $0.01 per share compared to $0.02 per share in Q1. |
